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2/20/10

Not only did Sprott own six million, four hundred and twenty-four thousand shares of Dorato Resources (DRI.v) as at December 31st 2009 but they also added 257,850 to their pile as part of the very recent round of financing. So Sprott now owns 9.5% of a company whose share price will now wither and fade down to its residual value (roughly 30c) because it won't be able to do anything significant at its only assets ever again.

Eric, if your suits fell for that "Ooooh, no problems with the locals" soft soap peddled by the company which has now been proven 100% wrong, you really need oversee your buying staff a little better than this......

An excellent article from The Epicurean Dealmaker this week linked right here. It's ostensibly about Goldman Sachs and its spokesman Lucas van Praag but don't let that put you off; it's far, far better than 99% of the tosh written about the vampire squid these days.

It also goes off on a few semi-sidebars. This one caught my attention in particular as it had me nodding and saying to myself "yup, that's why I'll never be a trader".

This is a trader's mentality. A trader never apologizes. A trader never admits he made a mistake. A trader never says he's sorry. To do so, in his mind, would be to admit weakness. Another trader could use such an admission against him in the next trade. By the same token, a trader never sits back and takes it. If someone attacks him, he attacks back, preferably in greater strength, to discourage similar attacks from his opponent or others in the future. Perceived weakness is blood in the water in trading, and it attracts other sharks.

At the same time, a trader understands that all other traders behave in the same fashion, and he should not take sharp elbows or direct attacks personally. After all, most trading is conducted among a relatively small number of firms, among a relatively small number of traders, all of whom know or know of each other. At the end of the day, you've gotta shrug off your wounds and bruises from the battles of today and get ready to trade with the same bunch of assholes tomorrow. No harm, no foul. No hard feelings.

Go read the note yourself, linked again just in case. Intelligent and educative.

So it's time to wheel out the next member of the ATW band of crooks, insider Andrew Bowering. Here are all the filings for Bowering dated Jan 1st 2008 onwards.

Insider name: Bowering, Andrew William

code

Trans Date

File Date

nature of transaction

amount

price

Shares held

1323207

2008-11-19

2008-11-25

10 - Acquisition or disposition in the public market

-20,000

0.32

2,304,958

1323213

24/11/2008

25/11/2008

10 - Acquisition or disposition in the public market

-15,000

0.36

2,289,958

1323219

24/11/2008

25/11/2008

10 - Acquisition or disposition in the public market

-12,500

0.38

2,277,458

1323221

24/11/2008

25/11/2008

10 - Acquisition or disposition in the public market

-10,000

0.37

2,267,458

1323224

24/11/2008

25/11/2008

10 - Acquisition or disposition in the public market

-10,000

0.35

2,257,458

1323246

24/11/2008

25/11/2008

10 - Acquisition or disposition in the public market

-5,000

0.36

2,252,458

1323226

25/11/2008

25/11/2008

10 - Acquisition or disposition in the public market

-12,500

0.375

2,239,958

1323245

25/11/2008

25/11/2008

10 - Acquisition or disposition in the public market

-5,000

0.37

2,234,958

1574808

23/06/2009

09/02/2010

10 - Acquisition or disposition in the public market

-40,000

0.75

2,194,958

1473403

14/07/2009

27/08/2009

10 - Acquisition or disposition in the public market

-30,000

0.64

2,164,958

1574802

15/07/2009

09/02/2010

47 - Acquisition or disposition by gift

-100,000

2,064,958

1473406

20/07/2009

27/08/2009

47 - Acquisition or disposition by gift

-300,000

1,764,958

1574805

20/07/2009

09/02/2010

10 - Acquisition or disposition in the public market

-5,000

0.6

1,759,958

1574798

11/08/2009

09/02/2010

47 - Acquisition or disposition by gift

-50,000

1,709,958

1473408

19/08/2009

27/08/2009

10 - Acquisition or disposition in the public market

-20,000

0.54

1,689,958

1574793

19/08/2009

09/02/2010

47 - Acquisition or disposition by gift

-100,000

1,589,958

1473409

26/08/2009

27/08/2009

10 - Acquisition or disposition in the public market

-20,000

0.56

1,569,958

1574791

27/08/2009

09/02/2010

10 - Acquisition or disposition in the public market

-100,000

0.54

1,469,958

1574786

12/11/2009

09/02/2010

47 - Acquisition or disposition by gift

-200,000

1,269,958

1553593

05/01/2010

08/01/2010

10 - Acquisition or disposition in the public market

-20,000

0.2

1,249,958

1578334

09/02/2010

16/02/2010

10 - Acquisition or disposition in the public market

-29,000

0.16

1,220,958

1578335

09/02/2010

16/02/2010

10 - Acquisition or disposition in the public market

-152,500

0.16

1,068,458

1578336

09/02/2010

16/02/2010

10 - Acquisition or disposition in the public market

-18,500

0.165

1,049,958

At first he sells some 70,000 shares in small lots at end 2008...pretty normal. But then check out the trades highlighted in red. Starting late June (when the news of the company-killing problems at their Aussie mine must have started filtering through to board level) Bowering starts disposing stock bigtime. Between June and August 2009, and just before the date when ATW.v went public with its enormous production problems and killed that immediately stock price, Bowering got rid of 725,000 shares. Also, note those lines marked "disposition by gift", WTF is all that about? A gift to whom? Right in the middle of heavy inside selling, a capitalist pig trying to bail as much as he can out of a company suddenly goes all philanthropic on us and gives shares away? Jeeesh dude, you must think we were born yesterday! Mr. Bowering, would you care to voluntarily disclose exactly who was the beneficiary of this largesse?

What's even more impressive is that bar two 20,000 share trades, every single transaction was late filed by Bowering. In fact, those two small but correctly filed trades speak their own volumes, as it shows Bowering was perfectly aware of the rules and what he should have done with his filings. But no, he simply chose to ignore the rules and do what the hell he wanted on the vast bulk of the selling, else draw attention to his massive share disposal that might put the stock under pressure.

Exactly the same tactics used by the other scumball insider sellers at ATW.v, Luke Norman and Graham Harris. Illegal, frontrunning sales made due to knowledge of the imminent death of the company and trades that were not disclosed to the public until after the fact. And surprise surprise, a quick look at Andrew Bowering's inside filings connects him to the company "Tribune" that's also knee-deep with the scamsters Norman and Harris as explained on Sunday.

With crud like these people at managerial level retail investors have no chance of making winning trades. Where is the OSC and why isn't it crawling all over on these scandalous operators?

This chart maps the progress of the US Dollar versus the six main traded currencies in LatAm over the last three months.

Chile Peso (CLP) and Brazil's Real (BRL) have both lost about 7% of value against the greenback in the quarter and as they are both headline-type currencies (Brazil the miracle and Chile the closest thing LatAm has to a serious country) they give the impression that the dollar has been all-conquering down this neck of the woods, too.

But it ain't necessarily so, Joe. Argentina's massively massaged Peso (ARS) has basically held its own vs USD. Meanwhile, three openly traded currencies down this way, namely Mexico's Peso (MXN), Peru's Nuevo Sol (PEN) and Colombia's Peso (COP) have all beaten out the dollar by a couple of percentage points.

Why is this so? My best guess is that LatAm isn't faking some sort of economic recovery. It's actually happening down here.

George Topping (ex-Sprott and Blackmont and a solid track record) now works out of US sellside house Thomas Weisel. This week (Feb 16th to be exact) Topping published a report on Antares Minerals (ANM.v) and it's well worth reading, not least because he sticks his neck out and says that next week's resource update looks like putting the Haquira project over 10Bn lbs Cu.

I thought this dataset was pretty interesting when I stumbled upon it last night. The USA at 1196 per capita (60 x 20-packs per person per year, so if you didn't smoke a pack this week, somebody did it for you) surprised me, as did Peru's tiny 129 cigarettes-per-person-per-year consumption. Also, this might explain why Cuban doctors are so good; they have to keep up with their coughing and spluttering citizens. Argentines are big smokers, so that one came as no shock. But Paraguay is a dirt poor nation so what are they doing smoking so much? Must be because Paraguayan ciggies are dirt cheap...I dunno.

2/18/10

Here's one thing that's bound to be on the agenda of Dr. Evo Morales when he visits Mexico City next week. UPI reports (translated):

Published 18:27, 18 Feb 2010

Bolivia To Ask Drug Consuming Countries To Reduce Demand

The vice-minister of Social Defence, Felipe Cáceres, said that drug consuming countries will be asked to apply policies that reduce demand.

Cáceres explained that Bolivia wishes to start a shared responsibility in the fight against narcotrafficking, therefore this proposal will be presented to the Inter-American Drug Abuse Control Commission (CICAD, part of the OAS) and the United Nations Narcotics Commission (UN).

"We will propose to these international organizations that the rich industrialized countries with high levels of (illegal drug) consumption create preventative policies to reduce demand and also that they recognize the efforts of Bolivia in the fight against narcotrafficking", he said.

Cáceres announced that he will present to CICAD and the United Nations in the USA the programs developed by Bolivia in the anti-drugs fight and the eradication of excess coca leaf production.

In a statement Thursday, the Fed said it would raise its discount, or primary credit rate, to 0.75% from 0.5% effective on Friday. The central bank also said that, effective on March 18, the maximum maturity for discount window loans will be shortened to overnight.

Then the dollar did this.........but gold's reaction did catch my eye.

Gold first did the logical swandive, but then got bought back up. It's after-hours action so maybe the market is too thin to read with accuracy, but the action and then re-action in Au suggests that you shouldn't read too much into the Fed's move. After all, it was expected in March, so even though it's come maybe three weeks earlier than expected it's not a big shocker.

Whatever happens tomorrow, it is shaping up as an interesting day for the metals.Update: Nice comment from Gary Biiwii. Also, gold futs dropped again...like i say...thin market and we'll get definition tomorrow. It's gonna be a fun day for sure but until then no more silly micromanagement

Dorato Resources (DRI.v) down 30.5% at $0.57 on first trades after being halted all morning. I laughed hard at its lipstick-on-a-pig NR this morning as apparently DRI is going to complain to the Canadian embassy in Peru, to Harpo, Queen Liz II, Barack Obama, the IMF, the Court of Human Rights in The Hague...... and all their mommies. Lawyers for DRI will recommend discourse tactics that include foot-stomping, pouting, tears and shouting "IT'S NOT FAIR!! IT'S NOT FAIR!!" as loudly as possible.

Antares (ANM.v) up 2.5% at $1.63. Strong news release today and much better than average volumes recorded in this stock too. Shhhhh, Elmer.... wabbit season.

B2Gold (BTO.to) down 0.8% at $1.25. Subscribers received a Flash update on this stock this morning. Volumes relatively low. Here's the six month chart for BTO.Fronteer (FRG) down 2.3% at U$4.65 despite more strong news from one of its Nevada gold projects, this time the Northumberland asset. Here's the PR, worth a look at the high grade results found. FRG just keeps on moving forward in the right way.

Any time a journalist gets a gun pulled on them during the course of their work, it's a serious situation. But in Peru the gunslinging isn't confined to the guys carrying sacks labelled "swag" on their backs. In Peru high court judges bully journalists with guns.

Meet Justice Raul Rosales, who decided to threaten photographer for Peru's Caretas magazine Carlos Saavedra with a gun last week (Feb 12th at 11:36am, to be exact) and also had the following conversation with the snapper (translated):

CS: Don't you realize what you're doing, pointing a gun at me?"RR: "And you should also be careful with what you're doing."

There are other reasons why Judge Raul Rosales is a polemic character in Peru at the moment, as he recently overturned a suspension order on one of his fellow judges that allowed him to go back to work, even though the whole episode that led to the suspension reeks of the normal corrupt stench that hangs around Peru's judiciary.

Just so you know how the legal system is working in this model democracy.

Two junior exploration copper juniors sent out news releases within minutes of each other this morning. Bizarrely, both drill holes returned the exact same amount of copper at 0.74%. Plenty of other coincidences too, as both are working Peru and both found good mineralization. But one was simply "good" while the other....well, click through and have a look for yourself. So it made me think of this:

Well, not to put too fine a point on it, subscribers knew last Sunday. As well as the persistent warnings put up on the blog about Dorato (DRI.v) and the big issues it faces in the Cenepa region (and a section in a Weekly a while ago), on Sunday Feb 14th subbers read the following:

Dorato Resources (DRI.v): Don’t go there

On the blog on Thursday (10), I made mention of the latest barrier being set up against the mining activities in the far North of Peru that may affect Dorato Resources (DRI.v) and others in the ‘Cordillera del Condor’ region which backs on to the equivalent region of Ecuador, home to Fruta del Norte amongst others. Word is that due to persistent protests from locals the government is planning to rescind a declaration made in 2007 that took areas out of the National Park zone there and offered up concessions to mining companies (11).

That’s the general story, but unofficial word from Lima corridors of power is that the fairly new and so-far somewhat toothless environment ministry, led up by pragmatic ecologist Antonio Brack, is keen on making an example of this area in exchange for allowing mining development enviro green lights in other areas of the country. The concept is that Brack can point to the Cordillera del Condor area as a place (rather minor in the great mining scheme of things) where the government has taken action and protected jungle areas. Meanwhile the mining and energy ministry gets its way in other, larger project areas such as the oil projects of the Amazon basin. The trade-off makes sense, but if it comes to pass it would be a killer for DRI. How sad.

Yes, you too would have had the chance to get out at between 85c and 90c on Tuesday and as high as 88c yesterday if you'd known what was in IKN41. Just sayin'. And by the way, if you think New Dimension Resources (NDR.v) isn't affected by all this, you need to stop smokin' those fatboys. The chances of any mine getting built in the Cenepa region by any company at any point in....oooh, let's say the next 30 years or so....is zero zip nada zilch. IAMGold worked this out last year and definitively retired its exploration activities from the region. That's the difference between a serious mining company and a bullshit junior, y'see.

Those of you who subscribe to Gary's 'Notes From The Rabbit Hole' weekly newsletter will know just how well he's been calling the action in the US Dollar recently. Gary's a friend, but that's not why I'm taking time out to reco his service to you (I'm not on commish, either); the only reason is that he's offering up great value to the people spending very little money per month to get the beenfit of his charting brain. Put simply, if you'd taken his advice on the USD (and more) recently you would have nailed the market. That's worth real money.

2/17/10

Goodbye, Dorato Resources (DRI.v). Now about to sink without trace along with the $15m of private placement financing it closed just three weeks before being told to close down operations at its only asset by a 'miner friendly' government. Didn't Gordy Neal tell you about the spot of bother they'd been having with the locals? Ooooh dear! Class action lawsuits, anyone?

Only about an hour after IKN's last post went out, Reuters today reports that the government of Peru has indefinitely suspended the exploration rights of Minera Afrodita (subsidiary of Dorato Resources) (DRI.v) in the Cenepa region of Peru. Some choice quotes from ministerial bigwigs too, with Prime Minister and cabinet chief Javier Velasquez saying (translated):

"The suspension is because the Afrodita mining company has not been able to accredit ownership of the terrain where it is exploring and has not been able to reach agreement with the indigenous communities and with the State."

Hey, you know those annoying dumbass wiseguys that go around saying "I told you so"? Well I'm one of them. Dorato Resources is one of the reasons why I'd never invest in Franco Nevada, but that's another story for another day.

Ecometals (EC.v) down 18.9% at $0.60. The investment philosophy used by longs in this stock works a bit like this; "I know, I'll buy a wildly inflated stock on the grounds that a bunch of liars are promising great things for it and then when the stock loses over half its value in less than two months........I'll go around blaming everybody else except myself". Stupidity means never having to say you're sorry.

Southern Copper (SCCO) down 3.7% at $30.20. Just a line to note that this stock has a new ticker symbol. Bye bye pee cee you, hello SCCO.

Royal Gold (RGLD) down 0.6% at $44.12. Now that RGLD looks like sealing the deal with International Royalty Corp (ROY)(IRC.to), the big question is whether I want to own RGLD. It's performed slightly better than gold over the last five year period and it pays small quarterly dividends, too. That's the advantage. The disadvatage is that it's not much more than a proxy for the metal. Any thoughts?

Troubles are mounting for Dorato Resources (DRI.v) as the company's mushroom politic tactics with local comunities in the Cenepa region of northern Peru are now backfiring. Word is that locals are going to make a formal protest march against the prescence of DRI in the area in March (i.e. next month), which is already being likened to the protest by the same Awajún-Wampi protests in Bagua Peru that ended up last year in full scale conflict and dozens of deaths of both police officers and protestors.

This Cenepa area is remote as remote can be. If you don't have the backing of the locals in an isolated area of Amazon basin jungle then you are simply asking for trouble by going in and exploring. DRI.v does not have support of locals, as simple as that, and all the edicts passed down from an office in Lima aren't going to help the company geologists when they're taken hostage yet again (or perhaps even worse next time...these people are evermore mad at being ignored and they're a warrior race, too).

Zebelio Kayap, President of the Organization for the Development of Frontier Communities of Cenepa, said two weeks ago that the Awajún-Wampi indigenous communities are tired of not receiving any sort of answer from the officials sent by the Ministry of Energy and Mines.

"We have asked them why they gave authorization for the entry of the Afrodita mining company (subsidiary of Dorato Resources) and why they gave out concessions in the Cordillera del Cóndor region when we had already signed an agreement with Inrena (Peru's official national parks authority) to create the 152 hectare Ichigkat Muja park. This was then reduced without respecting the signed document", said the leader, after noting that the Cordillera del Cóndor region is a valuable territory for the survival of indigenous natives and is also sacred as it is the home of the venerated Cerro Kumpanam mountain.

The natives of Cenepa reaffirmed their position: demand that the State complies with the act of creation of the national park area agreed upon and then delegates its vigilance and administration to locals. They also ask for the Cenepa mining concessions to be revoked due to non-compliance of consultancy rights established by the convenio OIT 169 as well as the withdrawal of the Afrodita and Dorato mining companies.

The indigenous natives of Cenepa do not recognize Afrodita's environmental inpact study, not only because the public consultancy audienced were held outside of the Cenepa region but also becuase they have decided to reject all extractive activities in the frontier zone.

Great news! The IMF has decided that Peru is going to grow its GDP by 5.8% in 2010! YAY!

So let's check the IMF's track record on the country, just to make sure they're trustworthy prognosticators and all that. Here's what the IMF said in February 2009 for last year's forecast:

The pace of economic growth is expected to decelerate to 6 percent in 2009, reflecting the global slowdown, lower terms of trade, and tighter financial conditions that would affect net exports and private investment.

So for the 2009 period the IMF consulted with the government, made its calculations, took into account the global crisis and the effect on world trade, did all its experty-expert stuff and made its forecast of a 6% GDP growth for Peru in 2009.

The real result: Peru grew by 1.12%. D'OH!

Why does the phrase 'dumbasses in suits' keep floating through my mind this morning?

Great news for the region! Panama's finest snarkblog, Bananama Republic, is back up and running after a sabbatical (that's what they say when owners go bigtime vacation, innit?) and already laying on great insight into the long thin country with a canal.

Bananama Republic was is and will always be the best place to read about the underbelly of Panama. Put it (back) on your radar (or even better, your RSS).

2/16/10

Good news Dynasty (DMM.to) longs, as one of the best short-term catalysts has just clicked into place around the stock. Yes indeed, last week one of the Zeds at the can of corn dropped their target price on the stock. It's now guaranteed to blast past the 12 month number of $6.70...YAY. Thanks Zed! Have a look at the report for yourself by downloading it here.

It's two weeks before PDAC and every junior miner out there seems to want to get some news on the table before the year's big conflab gets going. So far today and before the opening bell, your humble servant received 27 NRs from little pissant companies all going "ME! ME! LOOK AT ME!" in a multitude of ways. I expect the same amount before lunchtime.

And thus to celebrate this joyous e-mail experience, IKN offers a suggestion to ECU Silver (ECU.to) about its next possible news release to make sure these arch BS-pumpers aren't left behind in the rush:

TORONTO, ONTARIO--(Marketwire - Feb. 32, 2010) - ECU Silver Mining Inc. (TSX:ECU - News) is pleased to announce the procurement and delivery of high quality assets to its head office and office branches in Canada and Mexic0. The Company has taken delivery of 20,000 metal paperclips secured at a substantial discount to prevailing market prices. Mr. Michel Roy, Chairman and CEO of ECU Silver commented, "We are pleased to announce the news of our increase in paperclip inventory to our valued shareholders. Not only were the clips bought at a good price, but being of the metallic variety they are environmentally friendly. We expect these new supplies to benefit the Company as we move forward on our scams in Mexico".

In other news, the Company is issuing another ten million stock options to management and hangers-on over at GATA. But don't worry about it, suckaz. For further information regarding this news release, please mail our IR department who will promptly delete your message and never reply.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release because the people over at TSX aren't stupid.

Peru: A bullshit statistically manipulated and massaged 1.12% GDP growth for 2009 that isn't being taken seriously by anyone that looks beyond the headlines and studies the figures. But all the same, Peru is being lauded by the empty-headed suits for its great effort amidst adversity.

Bolivia: A genuine and statistically sound 3.7% GDP growth for 2009, the best in the whole of the Latin America region (from Tijuana to Tierra del Fuego). Totally ignored.

That Bolivia's has the best performing economy in the whole region is just too hard to swallow for the neolibs. So rather than address the issue they just pretend it doesn't exist and praise the economy of Peru that relies on 28% of its child population as workers to make money (and we're not talking paper rounds, folks, we're talking sweatshops, shoeshining and working in gold mines). Of course I'm not saying that child labor doesn't exist in Bolivia; all you need to do is check out who's guarding the sheep or llama herds to see the story. But the important thing is that you gringo types get the chance to invest your money in the child labor sectors of Peru. Far better for the world, right?

We've had the plug for Richard Grabman's "Gods Gachupines and Gringos" on the blog for as long as memory serves (which says more about my brain than the blog, perhaps) down there on the right, so it was so very excellent to tune into The Mex Files this morning and note that the book is now the number one bestseller in Amazon's Mexico category.

It's a top read, too, I kid thee not (payment for the ad was a free copy and I reckon I got a very good deal) so why not think about getting yourself a copy of this people's history of Mexico, written with the lay audience in mind and highly entertaining to boot. Congrats to Grabman for this great and now successful book.

Magma Metals (MMW.to) (MMW.ax) found a lot of PGMs on an infill drill hole at its Thunder Bay North Project in Canada. Here's the PR (and they said I'd never do it...F'in A!)

Australian-listed mineral exploration company Magma Metals (ASX: MMW) has announced that a zone of high-grade mineralisation has been intersected in the Bridge Zone in drill-hole BL10-197 at the Thunder Bay North Project in Ontario.

The zone is part of a 50m x 20m spaced infill drilling program currently in progress at the project.

This is one of the best drill intercepts recorded at the project to date and contains a 2.6m zone of massive sulphides with particularly high grades of mineralization. Massive sulphide mineralization is a key exploration target. Geophysical surveys and further drilling are planned to determine the geometry and extent of this zone.

An approximately 55,000m infill and extension diamond drilling program is in progress, mainly in the Bridge and Beaver Lake zones of the resource area in the Current Lake Intrusive Complex.

Approximately 40% of the program has been completed. Once the infill drilling has been completed, which is scheduled for May 2010, it is planned to complete an update of the resource estimate from the combined database of approximately 105,000m of drilling. This should be available in mid-2010.

Peru's exports rebounded well in 2009. From the low point reached in January 2009, exports managed to put in their third best month ever in December 2009.It's all thanks to the rebound in metals prices, of course, especially Peru's main exports of copper and gold. And if we look at the monthly percentage breakdown of metal mining exports to everything else that Peru exports, it's remained remarkably similar over these last three years. Mining exports made up 60% of the total back then and they still do today.

......the current state of play between the two front runners for Brazil's presidency.

This is the first time featured on IKN this year but it won't be the last because as 2010 grinds on Brazil's presidential election (first round October 2010) will begin to overshadow all other issues South of the Darien Gap.

Ciro Gomes and his supporters may disagree, but it looks like being a two horse race to take over from Lula, with more right-wing Serra up against the officialist PT party candidate (same party as Lula), Rousseff. As we see, Dilma is catching up fast. It's going to be a close one.

2/14/10

One is a frontrunning scumbag, and the other is a frontrunning scumbag.

In the post on Friday entitled"Graham Harris: Another day another Canadian rip-off" we noted how Harris, chairman at ATW Gold (ATW.v), decided to frontrun the company-breaking news released on September 18th by selling stock before the news was dissminated to the public and then ignoring rules about disclosure of insider trading by not filing the report until a full five months after the fact.

We then went on to warn people that Harris was the head honcho at Tribune Resources (TNR.f), but that part had a couple of mistakes in it. Firstly, the company has changed its name (gotta cover them tracks, boyz) and is now called 'Tribune Minerals'. But the second mistake turns out to have uncovered a doozy, as A. Reader sent in the latest MD&A of Tribune and pointed out who the new CEO is. Here's the line from the MD&A:

On September 24th, 2009 Luke Norman joined the board of Directors, and was appointed President and CEO.

Yes indeedy folks! Luke Norman, the other frontrunning scumbag from ATW Gold that sold his shares when he knew about the disaster about to hit, didn't tell anyone and then promptly resigned from the company, has taken over the helm at Tribune. Talk about thick as thieves! So let's check over the common points between Graham Harris and Luke Norman:

They both worked at Canaccord.

They both resigned to take up the junior mining game.

They both worked at ATW Gold.

They both reacted to the news of impending disaster like rats, selling their stock before any public disclosure and not disclosing their insider trades until well after the fact.

They now work together to promote their new gig, Tribune.

They are both utter assholes and belong in jail.

For more on the criminal scam known as ATW Gold and great exposés of the bullshit pumphouse newsletter writers that promo'd this dog to their massed audiences, check out the great blog "atwgold's blog". Make sure you scroll to the bottom to get the full experience.

Sorry guys, another stereotype set up by the bullshit lies of Mary O'Grady, Andres Idiotoppenheimer and all the propaganda gang up there that you're just going to have to throw out with the trash one of these fine days. Prensa Latina reports (translation IKN):

La Paz, Feb 14th (PL): In January, Bolivia's Special Forces in the Fight Against Narcotrafficking (Fuerza Especial de Lucha Contra el Narcotráfico (FELCN)) confiscated more than 161 tonnes of cocaine and marijuana inside national territory, according to the newspaper Cambio. This work is the result of 750 operations in Santa Cruz, Cochabamba and La Paz, according to the daily.

FELCN officers destroyed 334 drugs factories, a crystallization plant and 461 coca leaf maceration sites as well as arresting more than 251 people including Bolivians and foreigners.

The Director General of FELCN, Colonel Félix Molina, explained to Cambio that the statistics demonstrated the effectiveness of the police forces charged with the fight against drugs, which will be further improved by the pending reorganization of two special groups that will investigate narcotraffickers' monetary fortunes.

Yesterday, the national police force also reported the detention of two Colombians with more than 300kg of cocaine in the western region of Santa Cruz. The director of FELCN in the western area, Jorge Romero, said that the hypothesis is that two two arrested persons were installing a refining lab or possibly trying to remove the lab from the country by air.

The government of Bolivia recognizes that various large-scale drugs making labs dismantled in 2009 in the country used the same techniques as the narcotrafficking mafia of Colombia.

IKN41 has just hit the streets. We look at Rio Alto Mining (RIO.v) in detail, catch up with goings on in LatAm as affect mining, update on plenty of followed stocks and talk about the noise coming out of your TV. All that and the usual dose of typos, too.

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